QTPI vs. FPE

Last updated Jun 23, 2026

QTPI (North Square RCIM Tax-Advantaged Preferred and Income Securities ETF) and FPE (First Trust Preferred Securities & Income ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past year, QTPI returned 5.53% vs 7.40% for FPE. A 0.61 correlation means they provide meaningful diversification when combined. QTPI charges 0.60%/yr vs 0.85%/yr for FPE.

Performance

QTPI vs. FPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) and First Trust Preferred Securities & Income ETF (FPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTPI achieves a 1.20% return, which is significantly higher than FPE's 1.02% return.

QTPI

• 1D: -0.26%
• 1M: 0.35%
• YTD: 1.20%
• 6M: 1.05%
• 1Y: 5.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FPE

• 1D: 0.00%
• 1M: 0.39%
• YTD: 1.02%
• 6M: 1.13%
• 1Y: 7.40%
• 3Y*: 10.50%
• 5Y*: 2.97%
• 10Y*: 5.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

QTPI vs. FPE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QTPI North Square RCIM Tax-Advantaged Preferred and Income Securities ETF	1.20%	7.37%	0.19%
FPE First Trust Preferred Securities & Income ETF	1.02%	9.21%	0.00%

Correlation

The correlation between QTPI and FPE is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.61

The correlation between QTPI and FPE has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.

Return for Risk

QTPI vs. FPE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QTPI

QTPI Risk / Return Rank: 46
QTPI Sharpe Ratio Rank: 39
QTPI Sortino Ratio Rank: 40
QTPI Omega Ratio Rank: 37
QTPI Calmar Ratio Rank: 55
QTPI Martin Ratio Rank: 61

FPE

FPE Risk / Return Rank: 55
FPE Sharpe Ratio Rank: 59
FPE Sortino Ratio Rank: 60
FPE Omega Ratio Rank: 70
FPE Calmar Ratio Rank: 37
FPE Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QTPI vs. FPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) and First Trust Preferred Securities & Income ETF (FPE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	QTPI	FPE	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.92	-0.57
Sortino ratio: Return per unit of downside risk	1.97	2.73	-0.75
Omega ratio: Gain probability vs. loss probability	1.24	1.40	-0.16
Calmar ratio: Return relative to maximum drawdown	2.63	1.82	+0.81
Martin ratio: Return relative to average drawdown	10.68	8.01	+2.67

QTPI vs. FPE - Sharpe Ratio Comparison

The current QTPI Sharpe Ratio is 1.34, which is comparable to the FPE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of QTPI and FPE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QTPI vs. FPE - Drawdown Comparison

The maximum QTPI drawdown since its inception was -4.08%, smaller than the maximum FPE drawdown of -33.35%. Use the drawdown chart below to compare losses from any high point for QTPI and FPE.

Drawdown Indicators

	QTPI	FPE	Difference
Max Drawdown Largest peak-to-trough decline	-4.08%	-33.35%	+29.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-4.08%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.35%	—
Current Drawdown Current decline from peak	-0.32%	-0.78%	+0.46%
Average Drawdown Average peak-to-trough decline	-0.40%	-3.32%	+2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.93%	-0.41%

Volatility

QTPI vs. FPE - Volatility Comparison

North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) has a higher volatility of 1.34% compared to First Trust Preferred Securities & Income ETF (FPE) at 0.76%. This indicates that QTPI's price experiences larger fluctuations and is considered to be riskier than FPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTPI	FPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	0.76%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	3.25%	3.11%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	4.14%	3.88%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.96%	6.62%	-1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.96%	10.18%	-5.22%

QTPI vs. FPE - Expense Ratio Comparison

QTPI has a 0.60% expense ratio, which is lower than FPE's 0.85% expense ratio.

Dividends

QTPI vs. FPE - Dividend Comparison

QTPI's dividend yield for the trailing twelve months is around 4.43%, less than FPE's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPE First Trust Preferred Securities & Income ETF	5.83%	5.81%	5.68%	6.03%	5.67%	4.48%	4.88%	5.32%	6.14%	5.39%	5.97%	5.49%
QTPI North Square RCIM Tax-Advantaged Preferred and Income Securities ETF	4.43%	4.58%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QTPI and FPE in my portfolio?

QTPI and FPE have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTPI or FPE?

QTPI has higher volatility (1.34%) compared to FPE (0.76%). In terms of maximum drawdown, QTPI dropped -4.08% vs FPE's -33.35%.

Which ETF is better, QTPI or FPE?

On 1-year performance, FPE leads with 7.40% vs 5.53% for QTPI. On fees, QTPI is cheaper at 0.60% per year. On volatility, FPE has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTPI or FPE?

Over the 1-year period, FPE has performed better with a 7.40% return vs 5.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTPI or FPE?

QTPI is cheaper with a 0.60% expense ratio, compared with 0.85% for FPE.

Which ETF pays a higher dividend yield, QTPI or FPE?

FPE has the higher dividend yield at 5.83%, compared with 4.43% for QTPI.

What is the main difference between QTPI and FPE?

They also come from different issuers: North Square and First Trust. Their fees differ too: 0.60% for QTPI and 0.85% for FPE.

Which has better risk-adjusted returns?

FPE currently has the higher Sharpe Ratio (1.92 vs 1.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.